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Accenture: Millennial Investors More Conservative

By Rob Starr, Content Manager, Big4.com

According to an Accenture (NYSE: ACN) survey of more than 1,000 high-income, digitally savvy U.S. investors, Millennial investors are more conservative and less trusting of financial advisors than baby-boom and Gen X investors, and more inclined to consult other sources before accepting financial advice.

“Surprisingly, the millennial generation has emerged from two boom-and-bust cycles even more conservative about investing and more skeptical of financial advice than the generations that were hit hardest by the market,” he said. “This poses a fundamental challenge for financial advisors who will see the greatest transfer of wealth in history from boomers to their heirs over the next several decades. But counter to prevailing wisdom, our research suggests millennials are a highly viable target for advisors.”

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